ALDAR JOINS THE CLEAN ENERGY BUSINESS COUNCIL TO HELP ENHANCE ENERGY EFFICIENCY ACROSS THE MENA REGION

Aldar is the first CEBC Partner member from the real estate industry
Supports the leading role Aldar is taking on climate action in the region

Abu Dhabi, UAE – 11 November 2022: Aldar Properties (‘Aldar’) has become the first real estate industry entity to join the Clean Energy Business Council (‘CEBC’) as a Partner member and will work closely with the organisation to enhance energy efficiency in the region. The CEBC is a non-profit member association that is working to accelerate the transition towards clean energy in the MENA region, by connecting the public and private sectors.

The real estate industry has a major role to play in supporting decarbonisation by reducing construction and operational emissions and working with communities to adopt more sustainable standards of living. As one of the MENA region’s largest real estate developer and manager with assets under management of AED 30 billion and a significant landbank primed for further development, Aldar recognises its responsibility to lead and support clean energy transition initiatives.

Aldar will collaborate with CEBC in its ‘Energy Efficiency’ working group to achieve goals that will promote a sustainable future and support the UAE Net Zero by 2050 Strategic Initiative. This group, one of five CEBC working groups, aims to provide a forum to discuss policy and to help create a path for effective energy transition by actively engaging government entities, policymakers, businesses, and consumers. CEBC has a strong list of Partner members including major regional companies such as ACWA Power and ENOC and multinationals such as Standard Chartered, TotalEnergies and ENGIE.

Dr. Nasser Saidi, Chairman at CEBC, said: “When discussing the energy crisis, the supply side takes most of the attention while the demand side is usually ignored. However, with current energy efficiency technologies, the world is capable of reducing up to 40% of its energy consumption. As a powerhouse in the region, Aldar joining CEBC will empower our energy efficiency working group and strengthen our voice.”

Salwa Al Maflahi, Director for Sustainability and CSR at Aldar, said: “We are pleased to join CEBC as a partner and look forward to working with the association to advance the region’s energy efficiency agenda. Aldar is proud to be taking a leading role on climate action in the region and to be helping set the benchmark for the real estate sector. As the urgency of combatting climate change intensifies, we are enhancing our sustainability strategy to lower our carbon emissions and become fully aligned with the UAE’s Net Zero goal.”

This year, Aldar embarked on an energy management initiative announced in January that is expected to cut consumption by 20% across up to 80 of its owned assets. Following this, Aldar invested a further AED 25 million in energy retrofit projects in 13 of its residential communities that will reduce utility consumption for owners and tenants as part of its efforts to make Aldar communities more energy efficient and environmentally friendly.

For further information on Aldar’s sustainability journey, please visit: www.aldar.com/en/explore-aldar/sustainability

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